Sum insured. Definition, types

When we are offered to insure ourselves, our lives or our property from all kinds of troubles and troubles, we somehow do not think, answering, "What can happen to me?" However, as practice shows, much can happen: an accident, an earthquake, an industrial trauma, can be enumerated indefinitely. Today mass insurance contracts are concluded only on cars, and that because such insurance is obligatory.

When concluding a contract with an insurance company, an individual, in the event of an insured event, is entitled to receive monetary compensation. Otherwise it is called an insurance sum. However, no matter how obvious the occurrence of the insured event was, most companies try to avoid compensation payments to the victim in every possible way. For example, referring to the fact that there are no necessary documents, or they are incorrectly compiled and filled. Therefore, in order to prove your right to receive insurance, you always need to have a list of necessary documents for this, and in which case to fix the smallest details of the incident. If this is an accident, then it is necessary to draw up a protocol strictly according to the rules and to ensure that the inspector of the SAI has filled all documents with accuracy to the letter. If an accident happened, it is best to confirm this fact not only documentarily, but with photos and video, the benefit that now cameras are built in even the most "ancient" mobile phones, and this device is everyone's. It is also important to comply with all terms of application, payment of receipts, etc. Required documents must be photocopied in several copies, one of which must be given to the insurance company under a receipt. And, most importantly, do not rush to repair until the entire insurance amount is paid.

If the reason for the recovery from the company of compensation is an accident due to damage to health or death, then a medical report and examination is necessary. Without these documents, the insurance amount will hardly be paid. If you refused to pay compensation in the firm, you must necessarily demand a refusal in writing. In the future, this can greatly facilitate your life. After all, it can turn out that it will come to court, and there each paper has its own weight.

It is important to know that there is an insurance sum of two main types: aggregate and non-aggregate. In general, there are many varieties of the sum insured. So, for example, it can differ in the object of insurance or in the event, it can be decreasing or increasing, floating or standard, etc. What is their difference? To navigate in these concepts, it is enough to remember that the aggregate insurance sum is decreasing. A non-aggregate is non-reducible.

When concluding a contract, it is important to pay attention to the amount indicated in it. If the contract is concluded on the condition that the insurance payment is called non-aggregate, it means that even if several insured events occur within a year, the company will be obliged to make payments several times, and the amount will not decrease. In the case of an aggregate insured amount, its amount will decrease during the year in each subsequent insured event by the amount of the previous one. In this plan it is necessary to count on the possible number of insurance cases, since the conclusion of a contract in which a non-aggregate insurance sum is prescribed will cost an average of 5-10% more expensive, but such a contract gives a guarantee that at one fine moment for the consequences of an accident Will have to pay in cash out of their own pocket. In any case, the client of the insurance company always has a choice which contract to conclude, and to impose their conditions the insurance agent has no right.